Rio Tinto: Malaysia Government Approves Salco Smelter

MELBOURNE -(Dow Jones)- Miner Rio Tinto PLC (RTP) said Friday the Malaysian government granted a manufacturing license for its proposed US$2 billion aluminum smelter project in Similajau, in Sarawak state.

Rio is developing the 550,000 metric tons-a-year smelter in a joint venture with Cahyamata Sarawak Bhd. (2852.KU). The venture, Sarawak Aluminium Co., or Salco, will have an option to expand the smelter’s capacity to 1.5 million tons a year. It said the smelter could generate up to 4,700 jobs.